Full Form of TCS
TCS has two full forms, which are:
- Tata Consultancy Services
- Tax Collected at Source
Tata Consultancy Services
Tata Consultancy Services (TCS) is the most comprehensive multinational information technology (IT) services and consulting company in India. The headquarters of the Tata group is in Mumbai, Maharashtra, India, and run in 154nationalities across 46 countries.
TCS has 36.5% women employees from 154 nationalists, which is one of the enormous employers of women. Tata consultancy services today is the most esteemed and well-known IT services brand in the world. In 2019, TCS was ranked 22 on the Forbes 2000 list of the world’s best-regarded companies.
It is the second-largest Indian company by market capitalization. According to the 2018 Fortune India 500 list, it was ranked as the eleventh. It was established in 1968, started as “Tata computer systems,” and today is the fast moving brand in IT services all around the world by Brand Finance.
History of TCS
On 1 April 1968, Tata consultancy services begin as a division of Tata sons as a Management and Technology consultancy. FC Kohli was introduced as a general manager in Tata electric companies to operate this start-up.
In the year 1996, FC Kohli, who built and led the company for 22 years, left from his executive role and was entitled as vice-chairman. Subramanian Ramadorai became a senior vice president and CEO.
TCS was restricted in a distinct company with effect from 1st April 2004. TCS was listed on the National Stock Exchange (NSE) and Bombay stock exchange (BSE) as India’s third most valuable company on August 25, 2004.
- PEGA– TCS delivers large-scale Pega projects across the world to enable a seamless digital transformation journey for its customers and helping them benefit from robotic process automation.
- SAP–TCS has collaborated with SAP to assist customers in modifying their finance, supply chain, front office, and workforce organization to develop into a digital enterprise.
- ORACLE-TCS leverages oracle cloud technologies and offers services across software as a service (SaaS), platform as a service (PaaS), infrastructure as a service (IaaS) to help better customer engagement.
- AMAZON WEB SERIES- TCS is an AWS premier consulting and managed services partner. TCS-AWS collaboration spans banking, financial services, insurance, communication, media and information, energy, resource, and utility industries.
- SALESFORCE-TCS and Salesforce authorize organizations to amplify their client’s experience by exploiting the power of Salesforce solutions and modernization to make valuable, influential brands for audiences around the world.
Services of TCS
- TCS interactive
- Internet of Things
- Cloud applications
- Quality engineering
- Cognitive business
- Conversational experiences
- Automation & AI
- Cloud Infrastructure
- Enterprise Applications
Products of TCS
- TCS customer intelligence & insights
- TCS intelligent urban exchange
- Quartz- the smart ledgers
- TCS BaNCS
- TCS Mastercraft
- TCS Optumera
- TCS Ion
- TCS Omnistore
- TCS Connected Intelligence Platform
TCS offers thousands of jobs to young people every year. People who from computers and IT sector background have more possibility to get jobs as it is an IT company. It runs a placement drive in many institutes. Salary for freshers like Indian engineers in the IT industry is approximate Rs.3.5 lakh per annum.
But, TCS is now offering freshers with new digital skills a starting of about Rs.6.5 lakh per annum.
Tax Collected at Source
The tax collected at source is a provision in Section 206C of the Indianincome tax act, 1961. This provision means a person is obligated to accumulate a precise tax percentage from their buyers at the time of sale. The seller is only accountable for the accumulation of the tax from the buyer.
Some particular people and organizations are there who have been assorted as sellers for tax collected at source. Following lists are:-
- Central government
- State government
- Local authority
- Statutory corporation or authority
- Company registered under the companies act
- Partnership firms
- Co-operative society
A buyer is a person who buys something or intends to buy it. The following are people and organization who are free from the allocation as buyers for tax collected at source:
- Public sector entities or companies
- Central government
- State government
- Embassy of high commission
- Consulate and other trade representation of a foreign nation
- Clubs like social clubs